Motorola to buy video company BitBand
NEW YORK (Reuters) - Motorola Inc on Monday said that it would buy privately held BitBand, an Israel-based video-on-demand technology provider, to expand its home video business.
Motorola said it would integrate BitBand into its Home and Networks Mobility unity, for which the company has reportedly been looking for a buyer willing to pay $4 billion to $5 billion.
Motorola, which is losing money on its mobile phones business, did not disclose the terms of the BitBand deal. It expects to close the transaction in the current quarter.
BitBand provides Internet-based television technology to 60 operators in countries such as Holland, Italy and Russia, Motorola said.
Shares of Motorola rose 8 cents to $8.86 in morning trading on New York Stock Exchange.
(Reporting by Sinead Carew, editing by Dave Zimmerman)
- Tweet this
- Share this
- Digg this
- UPDATE 6-Obama warns on Crimea, orders sanctions over Russian moves in Ukraine
- CEO in apparent suicide was bitcoin fan, had other issues, too
- RPT-With Crimean appeal, Putin goes head-to-head with West over Ukraine
- Man called Bitcoin's father denies ties, leads LA car chase
- Privacy groups ask regulators to halt Facebook's $19 billion WhatsApp deal
A Japanese American man thought to be the reclusive multi-millionaire father of Bitcoin emerged from a modest Southern California home and denied involvement with the digital currency before leading reporters on a freeway car chase to the local headquarters of the Associated Press. Full Article
Privacy groups ask regulators to halt Facebook's $19 billion WhatsApp deal Full Article